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Tuesday, 07-Feb-2012

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KISAN CREDIT CARD

(f) The KCC holders’ details would be furnished as per the following format:

(i) Sl. No.
(ii) Name & Father’s Name of KCC Holder
(iii) Address
(iv) Age
(v) KCC A/C No.
(vi) Existing Disability (if any)
(vii) Name of Nominee and Relationship

(g) The claims administration will be done by the policy issuing office. The following documents are to be submitted at the time of claim in the event of death:

(i) Duly completed claim form (Annexure ‘A’).

(ii) Death certificate from attending Doctor (Registered Medical Practitioner), Gram Panchayat / Hospital.

(iii) Report of Claims Enquiry-cum-Verification Committee indicating the nature of accident consisting of the following officers (Annexure ‘B’) –

1. Branch Manager
2. Lead Bank Officer
3. Nominated Officer of the Insurance Company (one in each district).

(h) The Claims Enquiry-cum-Verification Committee will consider and recommend the claim for settlement based on –

(i) The duly completed application form for compensation in the prescribed form (Annexure ‘A’) received from the claimant.

(ii) Discreet enquiry to find out the cause of death and that the claim is genuine and payable under the terms and conditions of the scheme. If required the committee may utilise the services of outside agency to confirm the cause of death.

(iii) They will submit their report in the prescribed format (Annexure ‘B’) and recommend payment of claim to the designated office of the Insurance Company within 15 days from the date of receipt of claim application.

(i) After the receipt of claim requirements, the designated office of the Insurance Company will issue loss voucher to the concerned Branch. The loss voucher has to be discharged by the nominee (claimant) or the insured person in case of disablement claim and returned to the designated office of the Insurance Company.

(j) The cheque towards the claim amount will be issued in favour of nominee / insured and will be sent to the respective Branch for disbursement.

(k) Disablement Claims – The following documents are to be submitted at the time of claim in the event of disablement:

(i) Duly completed claim form (Annexure ‘A’).

(ii) Disablement certificate from attending Doctor (Registered Medical Practitioner).

(iii) Report from Claims Enquiry-cum-Verification Committee (Annexure ‘B’).

(iv) Photo of the injured person highlighting the disabililty.

(l) Claims of persons presumed to be dead due to drowning and whose body has not been traced, the claims will be settled after two years of the submission of the following documents:

(i) Police report and final investigation report.

(ii) Report of findings by Customs / Port Authorities.

(iii) Affidavit duly notarised.

(m) The nominee of the insured should give notice to the concerned Branch within 30 days. The accidental injury resulting into death / disablement within a period of 12 months only become admissible under the scheme / policy.

(n) All correspondence will be routed through the corresponding Branch.

15. OTHER OPERATIONAL GUIDELINES:

(a) Where finance is considered only for a specific crop, say sugarcane through tie-up with a sugar factory and farmer has obtained finance for other crops from other Bank / Co-operative society, such farmer can be financed for sugarcane crop provided dues certificate is submitted and there are no overdues. In such cases, other financing Bank / Co-operative society should be advised of the liabilities with us.

(b) Wherever crop insurance is available, coverage needs to be obtained.

(c) In case of default, the special facilities under the scheme should be immediately withdrawn and the limit should be treated as normal crop finance which would broadly mean –

(i) Withdrawal of cheque book facility (if issued).
(ii) Future disbursement on regularisation of account against bills / receipts.
(iii) Cash disbursement only to the extent of cash component.
(iv) Withdrawal of card.

16 APPLICATION OF PRUDENTIAL NORMS:

(a) Kisan Credit Card facility being in the nature of cash credit accommodation for agricultural purposes, the prudential norms as applicable to such facilities would apply to the KCC accounts.

(b) In other words, the credit card account would be deemed to be a Non-Performing Asset (NPA) if it remains out of order for a period of two crop seasons / one crop season (as the case may be, depending on the duration of the crops) after the repayment due date.

(c) The crop seasons after the due date should refer to only those two consecutive crop seasons in which the farmer usually undertakes crop production.

(d) An account will be treated as out of order in the following circumstances:

(i) There are no credits in the account continuously for two crop seasons as on the date of balance sheet, or
(ii) The credits in the account are not sufficient even to cover the interest debited in respect of the account for two crop seasons, or
(iii) The outstanding remains continuously in excess of the limit for two crop seasons as on the date of balance sheet.

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